Ljubljana, 09 May (STA) - The Hungarian-owned OTP Group Slovenia posted EUR 69 million in profit after tax in the first quarter of the year, the banking group said on Friday, boasting a 14.8% return on equity (ROE). The group's total assets reached EUR 14.9 billion, with its loan portfolio to non-bank customers growing by 2.6%, reaching EUR 7.2 billion.
The profit was driven by a core income of interest revenue and services of EUR 144.1 million, the group said, adding that it achieved a net interest margin of 3.05% despite decreasing market interest rates due to the European Central Bank's monetary policy.
The core company, the bank OTP, posted a net profit of EUR 66 million and a ROE of 14.2%, the group said.
Deposits of non-bank customers amounted to EUR 11.6 billion, the bank said, adding that its net loan-to-deposit ratio stood at 61.8%, "reflecting a balanced approach to managing loans and deposits".
"OTP Group Slovenia's equity is robust at EUR 1.9 billion, providing a solid foundation for its operations. The group's capital and liquidity ratios are well above regulatory and internally set requirements, with a total capital ratio of 21.2% and a liquidity coverage ratio of 333%."
Procurator Andras Hamori said that the results were a clear indication "that we are on the right path, and I am confident that together we will achieve even greater successes."
OTP Group's consolidated profit after tax in the first quarter was EUR 466 million, impacted by several one-off events, such as the bank tax and supervisory fee, which totalled EUR 333 million, the press release said. Had these items been booked evenly throughout the year, the Q1 profit after tax would have reached EUR 737 million.
